Yes and in fact the NTL Net Tangible Asset value was reduced because NTL effectively relinquished legal ownership of the Rahu tenement to Newcrest.
The terms being that Newcrest will drill and prove a resource at Rahu and give it back to NTL if it's not economic for a massive NCM size project. If NCM likes Rahu, NTL and NCM go 20:80 in the project or NTL can refuse and be bought out and keep a 2% net smelter royalty. Moral being that NTL's NTA is higher than it appears.
Tie this in with NTL's 20,000 cubic meters of bulk sampling ore from Levels 1-7 and now the momentum going on Levels 8> with Talisman deeps and there's some interesting things going on.
If Level 8 turns out to be as special as signs indicate then is there the possibility of NCM or another local massive company taking a share in Talisman Deeps?
Vanuatu too. As an NTL holder I'm glad they have an exotic location because investigating the area will be tax deductible
